Government to extend oil tax cut by two more months

The government has decided to extend the oil tax cut until the end of this year by two more months to support the recovery of domestic demand.

The Ministry of Strategy and Finance said it will extend the oil tax cut, which was scheduled to end at the end of next month, by two more months until the end of February next year, considering uncertainties in domestic and foreign gas prices and public burdens caused by tensions in the Middle East.

As a result, the current oil tax discount rate, which is 15% for gasoline and 23% for diesel and LPG butane, will continue.

The temporary reduction in oil taxes began in November 2021 and has been continuing for three years.